CIMD Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-09-24 16:58

Abstract：CIMD is a new online broker registered in United Arab Emirates, offering over 250 trading products to trade through their five types of accounts. It offers 24/7 customer service to contact. But there is a main problem that their license of DFSA is regarded as fake clone.

　　CIMD is a new online broker registered in United Arab Emirates, offering over 250 trading products to trade through their five types of accounts. It offers 24/7 customer service to contact. But there is a main problem that their license of DFSA is regarded as fake clone.

Pros and Cons

Pros	Cons
Over 250 class assets	Suspected fake clone license of DFSA
24/7 customer service	High minimum deposit except the Test account
Low spreads from 0.0 pips	No information related to deposit and withdrawal
	No social media presence

Is CIMD Legit?

　　CIMD claims that it is regulated by the Dubai Funancial Service Authority (DFSA) with license type of Retail Forex License and license number of F001383. But now it is suspected as fake clone one.

Regulatory Status	Suspected Fake Clone
Regulated by	United Arab Emirates
Licensed Institution	CIMD (Dubai) Limited
Licensed Type	Retail Forex License
Licensed Number	F001383

What Can I Trade on CIMD?

　　CIMD offers currency, precious metals, stocks, commodities, stock indices and cryptos.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Cryptocurrencies	✔
Stocks	✔
Precious Metals	✔
Bonds	❌
Mutual Funds	❌

Account Type & Leverage

　　CIMD offers Test, Beginner, Standard, VIP, and Corporate accounts with the minimum deposits of €100, €2,000, €50,000, and €150,000 respectively. The Corporate account does not require the minimum deposit.

　　Besides, each account offers flexible leverage: 1:20 for the Test account, 1:30 for the Beginner, 1:40 for the Standard account, 1:50 for the VIP account and 1:100 for the Corporate account.

CIMD Fees (Spreads)

　　CIMD offers different spreads for their accounts. The offers the spreads from 0.8 pips for the Test account, from 0.6 pips for the Beginner account, 0.5 pips for the Standard account, and 0.4 pips for the VIP accounts. For the Corporate account, it offers floating spreads.

Account Type	Spread (pips)
Test Account	0.8 pips
Beginner Account	0.6 pips
Standard Account	0.5 pips
VIP Account	0.4 pips
Corporate Account	Floating spreads

Customer Service

　　CIMD offers 24/7 customer service through phone and email.

Contact Options	Details
Phone	UK: +441668320001/ UAE: +97145865689
Email	support@cimdltd.net / info@cimdltd.net
Support Ticket System	❌
Online Chat	❌
Social Media	❌
Supported Language	English, Arabic
Website Language	English, Russian
Physical Address	Unit OT 19-32, Level 19, Central Park Offices, DIFC, PO Box 506776, Dubai, UAE

The Bottom Line

　　CIMD assists its clients in trading on financial markets using leverage via CFDs. It offers five types of accounts with lower spreads and flexible leverage ratios. However, CIMD is now not regulated well and their minimum deposits are rather high, which are not suitable for beginners.